Iirc Lake also:
- spent almost $6M on admin and corporate costs just last quarter.
- spent just shy of $50M on admin and corporate costs in FY2024.
Read that again.
- pays the ceo a $1.5M base salary
- “demonstrated” production capability by having a third-party’s test plant temporarily on site, which only produced some brine concentrate, which was then sent to another third party in Canada to produce a mere 1.3 tonnes of carbonate, in total.
- claimed they would be producing at 50,000tpa rate within about 24 months, despite not even having permits or financing in place.
- Require circa $2 billion in capex, for a project that requires an avg carbonate price of $33k per tonne for an IRR of just 21%.
Read that again.
…lucky for them they have so much money to waste while they sit around hoping for $2B to fall from the sky.
lmfao
AGY Price at posting:
1.9¢ Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)